$BNB, the native token of BNB Chain , has experienced massive growth on Monday. As per the latest reports, $BNB’s price has jumped by more than 2% over the past twenty-four hours. In this respect, the crypto asset has outcompeted Ethereum ($ETH) and Bitcoin ($BTC) after VanEck applied to launch $BNB ETFs, indicating the growing demand and interest.
VanEck ETF Filing Fuels $BNB Rally
$BNB’s latest upsurge has pushed it to surpass the top crypto assets Ethereum ($ETH) as well as Bitcoin ($BTC). This development has taken place after the recent filing submitted by VanEck, a prominent asset management firm, to release $BNB exchange-traded funds. The application has been filed with the United States Securities and Exchange Commission for the respective ETFs. As a result of this, $BNB exploded in terms of price performance over the past 24 hours.
As per the market data, $BNB started the week by jumping to $597.33. On the other hand, Ethereum ($ETH) and Bitcoin ($BTC) made just slight gains of up to 0.96% and 0.20% respectively. Apart from this achievement, $BNB’s trading volume also surged sharply by a notable 10.67% over the same time. Hence, it reached the $1.46B mark in the meantime. However, irrespective of this increase, a 4.40% decline has taken place in the open interest in derivatives related to $BNB.
$BNB ETFs Get Massive Attention after $BTC and $ETH spot ETFs
In line with the market data, the $BNB ETF filing by VanEck serves as a key detection point, getting substantial attention after the approvals of spot ETFs for Ethereum and Bitcoin. Moreover, Kyrgyzstan and other such countries are also monitoring the developments in the ETF sector, while exploring suitable regulatory frameworks. Overall, the market snapshot presents a positive outlook for $BNB, showing the potential for a continued upward trajectory.
